"Our transportable hydrogen refueling stations are designed to support our customers as they advance their hydrogen fuel cell vehicle initiatives and are helping to establish the foundation of a hydrogen refueling network," stated Alan P. Niedzwiecki, President and CEO. "The high pressure storage systems developed by Quantum, which these new refueling stations support, translate directly into a greater vehicle driving range for hydrogen fueled vehicles, a critical factor for the commercialization of fuel cell vehicles."
"Quantum's hydrogen refueling stations, integral elements of our alternative energy product portfolio, are cost-effective, just-in-time modular solutions to deliver hydrogen to hydrogen powered vehicles as their demand continues to grow around the world," added Mr. Niedzwiecki.
Recently, GM announced that their Chevrolet Sequel fuel cell vehicle successfully drove a distance of 300 miles on one fill of hydrogen, from General Motors' Fuel Cell Activity Center in Honeoye Falls to Tarrytown, New York, becoming the world's first fuel cell vehicle to achieve that milestone. The Sequel is equipped with Quantum's integrated hydrogen storage system, comprised of Quantum's ultra-lightweight 10,000 psi (70 MPa) hydrogen tanks and related hydrogen regulation, metering, and safety systems.
Quantum, a fully integrated alternative energy company, is a leader in powertrain engineering, system integration and manufacturing of packaged fuel systems and accessories for specialty vehicles and applications including fuel cells, hybrids, alternative fuels, hydrogen refueling, new body styles, mid-cycle vehicle product enhancements and high performance engines and drive trains for OEMs and consumers of aftermarket parts and accessories. Quantum also designs and manufactures hybrid and fuel cell vehicles. Quantum also develops and manufacturers advanced lithium-ion batteries through its partner, Advanced Lithium Power.
Quantum has product commercialization alliances with General Motors, AM General and Sumitomo. Quantum's customer base includes General Motors, Toyota, Opel, Hyundai, Suzuki, Ford, DaimlerChrysler, SunLine, Yamaha, AeroVironment, and the U.S. Army.
More information can be found about Quantum's products and services at http://www.qtww.com.
Forward Looking Statements
Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future revenues and operating results; future opportunities for Quantum; the Company's ability to fulfill orders in the future; and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, prevailing market conditions; the Company's ability to design and market automotive products; the Company's ability to meet customer specifications and qualification requirements; availability of component parts and raw materials that meet the Company's requirements; and the Company's ability to source alternative materials and suppliers. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2006. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
For more information regarding Quantum, please contact: Dale Rasmussen Investor Relations Email: Email Contact +1-206-315-8242 Andy Abele Executive Director, Strategic Development Email: Email Contact +1-949-399-4527 (C)2007 Quantum Fuel Systems Technologies Worldwide, Inc. Advanced Technology Center 17872 Cartwright Road, Irvine, CA 92614 Phone 949-399-4500 Fax 949-399-4600
Web site: http://www.qtww.com/